Cloud Computing: Salesforce buys Quip for $582 million

Grazed from CBR. Author: James Nunns.

Salesforce has again decided to splash the cash in order to boost its portfolio this time with the acquisition of productivity software maker Quip. The deal, which will be for $582 million in stock, will add to Salesforce’s portfolio a number of programs for creating documents and spreadsheets.

Quip’s products are designed for collaboration using mobile devices, something which should be a boost to the CRM vendor as it looks to advance its mobile offering. Another angle to the deal is that Quip is a competitor of Microsoft Office and Alphabet’s Google Docs...

Salesforce has in place a “strategic partnership” with Microsoft in which there is a Salesforce integration in Outlook. It is perhaps unlikely that Salesforce would use the acquisition to take on Microsoft, instead it is probable that Quip will be used to enhance existing offerings...

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